Bangalore

Asia-Pacific

Oyo Enters Premium Resorts Category With New Brand

China’s summer resort tourism market reaches 1.2-1.5 trillion yuan as residents seek refuge from heat waves. The Philippines Bureau of Immigration expects a 20% increase in tourist visa extensions with the launch of its electronic services platform. SC Capital Partners acquires a portfolio of 27 resort hotels in Japan , focusing on revenue increase and refurbishment works.
Asia-Pacific

Australia’s Boutique Hotel Boom Continues

China Hotel RevPAR: China Hotel RevPAR increased by 44% YoY for the week, but compared to the same week in 2019, it was down by -5.9%. Macau Hotel Occupancy: Macau ‘s hotel occupancy rate in May rose by 44.6 percentage points YoY, reaching 78.9%. Three-star hotels had an 81% occupancy rate, while five-star hotels reached 79%. Boutique Hotel Market in Australia: Australia ‘s boutique hotel market is experiencing growth due to a travel evolution sparked by the pandemic. Boutique properties outperformed international hotels in occupancy, ADR, and RevPAR, driven by domestic, leisure-based tourism.
Asia-Pacific

Four New 5-Star Hotels for Bangladesh

China’s hotel industry shows strong recovery with a significant increase in RevPAR, benefiting companies like STR and driving pent-up travel demand, particularly from Chinese tourists. Major developments in the hospitality sector are underway in various locations, including Thane (Maharashtra) where Oberoi Realty plans to develop a luxury hotel managed by Marriott International or Hyatt, and Dhaka (Bangladesh) with multiple new five-star hotels expected to open in the coming years. Hotel projects and expansions are also taking place in Nagoya (Japan), Tokyo’s Shinjuku area, San Fernando (Pampanga, Philippines), and Nha Trang (Vietnam), indicating growth and investments in these respective regions.
Asia-Pacific

Marriott to Expand China Properties by Nearly 10% in 2023

Finn Partners released the results of their latest report, Outbound Rebound: The Return of Chinese Travelers . Marriott International announced plans to expand its portfolio in Greater China with the expected addition of 47 hotels in 2023, comprising more than 12,000 rooms. Accor announced the opening of Grand Mercure Hanoi, a new premium hotel in Vietnam .
Asia-Pacific

Chinese Outbound Travel Continues to Expand

Singapore has urged Chinese authorities to restore flight capacity between the two nations to pre-Covid levels as soon as possible in a bid to improve business and tourism ties. South Korea will increase the number of flights into the country from China to 80 from 62 per week by the end of this month. European Union countries have agreed to phase out pre-departure Covid testing for travelers from China by the end of the month.
Asia-Pacific

India Premium Hotel Inventory Demand to Increase

STR reported China hotel RevPAR for the week ended 11/5 was up 4.4% year over year. China’s Covid cases continue to surge with 8,824 new domestic cases reported on Wednesday. The state-run Xinhua news agency said authorities need to take a more targeted approach to tackling Covid outbreaks. Ratings agency Icra said they expect premium hotel inventory in India to increase 3.5% to 4% in the current fiscal year with an addition of around 15,500 rooms amid a recovery in demand.